TV One presents Real Estate Realities: When the Boom
Goes Bust, a prime-time special with TV One Financial Correspondent
Michelle Singletary. With rising interest rates, sub-prime loans and
foreclosures, America's troubling times have people worried. While Wall
Street is reeling from bad loans and bad investments, no one has been hit harder
by this crisis than African-Americans. Home equity accounts for nearly 90
percent of Black homeowners' total net worth. So, as the housing market
collapses, much of the new wealth that has accumulated in Black communities will
go with it.
Michelle Singletary will help viewers understand and
avoid the pitfalls that are driving so many Blacks into a housing dilemma. With
the help of mortgage expert Ken Wade, CEO of NeighborWorks America and top
realtor Desiree Callender, Michelle analyzes the options for three individuals
going through this housing meltdown, and brings to light smart choices that they
and other African Americans can make in order to navigate their own difficult
situations, including how to manage paying higher interest rates on a loan
that's been reset, what steps to take in the face of foreclosure and tips for
current buyers trying to take advantage of the market's lower home prices.
Don't miss this must see Singletary special.
